The Moat Index
Compare moats, side by side.
Two to four companies, scored on the same five investor questions from their SEC filings — so the comparison is apples to apples. The method is fully public.
ELTX · Healthcare · Shallow moat
Doesn't clear the bar
The returnsOnCapital component abstained: Not enough years of ROIC data to score returns on capital. The other four 20% weights were renormalized over the scored 80%.
IMCR · Healthcare · Shallow moat
Doesn't clear the bar
The returnsOnCapital component abstained: Not enough years of ROIC data to score returns on capital. The other four 20% weights were renormalized over the scored 80%.
SKIN · Healthcare · Shallow moat
Doesn't clear the bar
The returnsOnCapital component abstained: Not enough years of ROIC data to score returns on capital. The other four 20% weights were renormalized over the scored 80%.
| Measure | ELTX | IMCR | BMRN | SKIN |
|---|---|---|---|---|
| Moat Score (0–100) | 57 | 58 (highest) | 57 | 57 |
| Methodology version | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 |
| Business trend | 60 | 70 | 91 (highest) | 50 |
| Pricing power | 70 | 100 (highest) | 99 | 84 |
| Returns on capital | — | — | 0 | — |
| Balance-sheet safety | 55 | 28 | 73 (highest) | 28 |
| Capital discipline | 44 | 33 | 24 | 67 (highest) |
| Price vs. high estimate | No price data | No price data | 483% above high estimate | No price data |
| Market cap | $54.1M | $1.7B | $11.4B | $100.5M |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |